Harvest Portfolios Group Inc. Cuts Stake in GE Aerospace $GE

Key Points

• Harvest Portfolios Group Inc. reduced its stake in GE Aerospace by 13.1%, ending the quarter with 8,504 shares valued at approximately $1.7 million.
• Several institutional investors made significant moves, including GAMMA Investing LLC, which increased its position by 23,611.7%, acquiring over 5 million shares.
• GE Aerospace reported earnings of $1.66 EPS, surpassing analysts' estimates, with a revenue of $10.15 billion, marking a 21.2% year-over-year increase.

Harvest Portfolios Group Inc. lowered its position in GE Aerospace (NYSE:GE - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,504 shares of the company's stock after selling 1,287 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in GE Aerospace were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GE. GQG Partners LLC purchased a new stake in GE Aerospace in the first quarter worth approximately $1,606,840,000. GAMMA Investing LLC lifted its position in GE Aerospace by 23,611.7% in the first quarter. GAMMA Investing LLC now owns 5,065,997 shares of the company's stock valued at $1,013,959,000 after purchasing an additional 5,044,632 shares during the last quarter. Nuveen LLC bought a new stake in GE Aerospace in the first quarter valued at approximately $777,075,000. Janus Henderson Group PLC lifted its position in GE Aerospace by 87.7% in the fourth quarter. Janus Henderson Group PLC now owns 3,581,799 shares of the company's stock valued at $597,412,000 after purchasing an additional 1,673,365 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in GE Aerospace by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,131,285 shares of the company's stock valued at $5,030,028,000 after purchasing an additional 1,492,486 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

GE Aerospace Price Performance

Shares of GE Aerospace stock opened at $274.49 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $291.08 billion, a PE ratio of 38.28, a P/E/G ratio of 2.87 and a beta of 1.44. The business has a 50 day moving average of $261.27 and a 200 day moving average of $227.44. GE Aerospace has a 52 week low of $159.36 and a 52 week high of $281.50.

GE Aerospace (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.23. The company had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.49 billion. GE Aerospace had a return on equity of 31.32% and a net margin of 18.64%.The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. GE Aerospace has set its FY 2025 guidance at 5.600-5.800 EPS. As a group, equities research analysts forecast that GE Aerospace will post 5.4 earnings per share for the current year.

GE Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, July 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. GE Aerospace's dividend payout ratio is presently 20.08%.

Wall Street Analyst Weigh In

GE has been the subject of several recent research reports. Wall Street Zen upgraded GE Aerospace from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada boosted their price objective on GE Aerospace from $275.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Barclays boosted their price objective on GE Aerospace from $230.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on GE Aerospace from $34.00 to $38.00 in a research report on Wednesday, July 23rd. Finally, Citigroup reiterated a "buy" rating and issued a $296.00 price objective (up previously from $227.00) on shares of GE Aerospace in a research report on Monday, July 14th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $232.92.

GE Aerospace Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.

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